The first white settlers started to arrive in the 1830s and began clearing the land, draining the swamps, and building homes and farms. Michael Houser is considered the founder of Baroda, bargaining with the Indiana and Lake Michigan Railway Company to establish a station on his land. Houser platted the village and sold lots on very generous terms. Houser named the community after Baroda in Gujarat, India. The village incorporated in 1907.
There were 362 households out of which 33.7% had children under the age of 18 living with them, 51.7% were married couples living together, 9.1% had a female householder with no husband present, and 35.9% were non-families. 29.6% of all households were made up of individuals and 10.2% had someone living alone who was 65 years of age or older. The average household size was 2.35 and the average family size was 2.92.
In the village the population was spread out with 25.3% under the age of 18, 5.7% from 18 to 24, 34.6% from 25 to 44, 19.1% from 45 to 64, and 15.3% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 98.6 males. For every 100 females age 18 and over, there were 94.8 males.
The median income for a household in the village was $36,250, and the median income for a family was $41,979. Males had a median income of $32,411 versus $24,107 for females. The per capita income for the village was $16,412. About 6.0% of families and 7.9% of the population were below the poverty line, including 8.1% of those under age 18 and 10.7% of those age 65 or over.